EFCC Boss, Olukoyede reads riot act on Banks’ CEOs


By Kenneth Atavti

The Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has called on Chief Executive Officers, CEOs of banks across the country to always abide by extant regulations and rules in their practices as effective means of tackling economic and financial crimes and other acts of corruption.

He stated this in Abuja, while receiving the Body of Bank CEOs, under the auspices of the Chartered Institute of Bankers of Nigeria, CIBN that paid him a courtesy visit at the Corporate Headquarters of the EFCC.

Olukoyede frowned at sharp practices, compromises and unethical practices in the banking sector stressing that ethical reorientation of bank workers is imperative in sanitizing the sector.

“ I think the essential thing is for you all to play by the rules. Banking fraud affects the economy considerably. We are ready to work with any bank executive that plays by the rules because that is the only way of growing the economy”, he said

He assured the CEOs that the Commission would work together with them in a way that would encourage mutual trust which will help banks and businesses to grow the economy.

“We will work together, we don’t want to see any bank go down, we don’t want to see any business destroyed, especially when you are set up to create wealth and employment and that is what we need in Nigeria. You help businesses to grow, why should any government want to bring banks down? But there are enterprises that are set up to destroy the system, to destroy the economy, we will not allow those ones to survive”, he said.

The EFCC’s boss reminded the banks’ CEOs that his focus is to use the instrumentality of the Commission’s mandate to stimulate the economy. “One of the policy objectives that I share with Nigerians in the course of my Senate screening and confirmation is to use the instrumentality of this mandate to stimulate the economy, that is very important, because I know what other anti-corruption agencies do all over the world and that is the key to us and we have started doing that,” he said.

Earlier in his address, Managing Director, Standard Chartered Bank, Lamin Madang, who led the group commended Olukoyede on his appointment and admitted that he is succeeding in rebranding the image of the EFCC.

“Let’s start by congratulating you, Mr. Chairman for your appointment as the Executive Chairman of the EFCC. We commend your leadership for the efforts to rebrand the image of the EFCC as an institution that embraces professionalism while prioritizing the humane approach in the conduct of your operations.

“We also commend the Commission for your proactive stakeholder engagement, religious leaders, youth, and traditional rulers in the collective fight against corruption. This demonstrates a firm commitment to mobilize and foster widespread participation in the anti-corruption crusade”, he said.